Government spending vs gdp per capita in Iceland
Iceland: Government spending vs gdp per capita was 46.54 in 2024. ◆ Volatile
Latest (2024)
46.54
Change on year
up 3.4%
World rank
23rd
of 151 countries
All-time high
62.78
in 2008
All-time low
5.84
in 1915
Years of data
116
1909–2024
Government spending vs gdp per capita in Iceland, 1909–2024
Source: Our World in Data.
Analysis
Iceland recorded 46.54 for government spending vs gdp per capita in 2024.
That represents a change of up 3.4% on the previous year and up 2.6% over ten years.
Over the whole period, government spending vs gdp per capita in Iceland peaked at 62.78 in 2008 and was at its lowest, 5.84, in 1915.
Iceland ranks 23rd of 151 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Government spending vs gdp per capita in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1909 | 7.98 | — |
| 1910 | 7.37 | -7.6% |
| 1911 | 7.23 | -2.0% |
| 1912 | 7.69 | +6.4% |
| 1913 | 6.58 | -14.4% |
| 1914 | 7.38 | +12.1% |
| 1915 | 5.84 | -20.8% |
| 1916 | 6.65 | +13.8% |
| 1917 | 15.15 | +128.0% |
| 1918 | 10.79 | -28.8% |
| 1919 | 7.82 | -27.6% |
| 1920 | 13.98 | +78.8% |
| 1921 | 12 | -14.1% |
| 1922 | 11.03 | -8.1% |
| 1923 | 10.51 | -4.7% |
| 1924 | 7.85 | -25.4% |
| 1925 | 8.13 | +3.6% |
| 1926 | 10.34 | +27.2% |
| 1927 | 9.66 | -6.6% |
| 1928 | 8.87 | -8.2% |
| 1929 | 9.75 | +10.0% |
| 1930 | 13.04 | +33.7% |
| 1931 | 12.73 | -2.4% |
| 1932 | 12.32 | -3.3% |
| 1933 | 11.89 | -3.4% |
| 1934 | 13.3 | +11.9% |
| 1935 | 12.53 | -5.8% |
| 1936 | 12.33 | -1.6% |
| 1937 | 11.94 | -3.2% |
| 1938 | 11.87 | -0.5% |
| 1939 | 11.27 | -5.1% |
| 1940 | 9.19 | -18.4% |
| 1941 | 10.37 | +12.8% |
| 1942 | 11.43 | +10.2% |
| 1943 | 11.32 | -0.9% |
| 1944 | 13.74 | +21.4% |
| 1945 | 15 | +9.1% |
| 1946 | 20.2 | +34.7% |
| 1947 | 23.89 | +18.3% |
| 1948 | 22.59 | -5.5% |
| 1949 | 24.74 | +9.5% |
| 1950 | 21.19 | -14.3% |
| 1951 | 22.65 | +6.9% |
| 1952 | 22.04 | -2.7% |
| 1953 | 24.48 | +11.1% |
| 1954 | 22.5 | -8.1% |
| 1955 | 23.1 | +2.7% |
| 1956 | 26.85 | +16.2% |
| 1957 | 29.05 | +8.2% |
| 1958 | 32.62 | +12.3% |
| 1959 | 36.04 | +10.5% |
| 1960 | 33.15 | -8.0% |
| 1961 | 25.31 | -23.6% |
| 1962 | 24.9 | -1.6% |
| 1963 | 26.24 | +5.4% |
| 1964 | 28.21 | +7.5% |
| 1965 | 28.28 | +0.3% |
| 1966 | 28.31 | +0.1% |
| 1967 | 31.65 | +11.8% |
| 1968 | 33.25 | +5.1% |
| 1969 | 30.3 | -8.9% |
| 1970 | 29.85 | -1.5% |
| 1971 | 32.54 | +9.0% |
| 1972 | 33.28 | +2.3% |
| 1973 | 33.65 | +1.1% |
| 1974 | 36.64 | +8.9% |
| 1975 | 36.89 | +0.7% |
| 1976 | 32.12 | -12.9% |
| 1977 | 31.71 | -1.3% |
| 1978 | 31.93 | +0.7% |
| 1979 | 32.44 | +1.6% |
| 1980 | 33.9 | +4.5% |
| 1981 | 35.28 | +4.1% |
| 1982 | 35.98 | +2.0% |
| 1983 | 37.77 | +5.0% |
| 1984 | 34.66 | -8.2% |
| 1985 | 37 | +6.7% |
| 1986 | 39.47 | +6.7% |
| 1987 | 36.49 | -7.6% |
| 1988 | 41.42 | +13.5% |
| 1989 | 42.93 | +3.7% |
| 1990 | 42.58 | -0.8% |
| 1991 | 42.85 | +0.6% |
| 1992 | 44.68 | +4.3% |
| 1993 | 45.1 | +0.9% |
| 1994 | 44.97 | -0.3% |
| 1995 | 44.37 | -1.3% |
| 1996 | 43.94 | -1.0% |
| 1997 | 41.32 | -6.0% |
| 1998 | 40.24 | -2.6% |
| 1999 | 44.77 | +11.3% |
| 2000 | 44.26 | -1.1% |
| 2001 | 46.91 | +6.0% |
| 2002 | 44.99 | -4.1% |
| 2003 | 47.23 | +5.0% |
| 2004 | 46.22 | -2.1% |
| 2005 | 44.23 | -4.3% |
| 2006 | 44.31 | +0.2% |
| 2007 | 44.12 | -0.4% |
| 2008 | 62.78 | +42.3% |
| 2009 | 53.34 | -15.0% |
| 2010 | 48.19 | -9.6% |
| 2011 | 49.97 | +3.7% |
| 2012 | 47.12 | -5.7% |
| 2013 | 45.63 | -3.2% |
| 2014 | 45.36 | -0.6% |
| 2015 | 43.02 | -5.1% |
| 2016 | 45.8 | +6.4% |
| 2017 | 43.82 | -4.3% |
| 2018 | 43.16 | -1.5% |
| 2019 | 43.05 | -0.3% |
| 2020 | 50.16 | +16.5% |
| 2021 | 48.71 | -2.9% |
| 2022 | 45.93 | -5.7% |
| 2023 | 45 | -2.0% |
| 2024 | 46.54 | +3.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1900s | 7.98 | 7.98 | 7.98 | 1 |
| 1910s | 8.25 | 5.84 | 15.15 | 10 |
| 1920s | 10.21 | 7.85 | 13.98 | 10 |
| 1930s | 12.32 | 11.27 | 13.3 | 10 |
| 1940s | 16.25 | 9.19 | 24.74 | 10 |
| 1950s | 26.05 | 21.19 | 36.04 | 10 |
| 1960s | 28.96 | 24.9 | 33.25 | 10 |
| 1970s | 33.1 | 29.85 | 36.89 | 10 |
| 1980s | 37.49 | 33.9 | 42.93 | 10 |
| 1990s | 43.48 | 40.24 | 45.1 | 10 |
| 2000s | 47.84 | 44.12 | 62.78 | 10 |
| 2010s | 45.51 | 43.02 | 49.97 | 10 |
| 2020s | 47.27 | 45 | 50.16 | 5 |
Countries ranked near Iceland
More economy & growth data for Iceland
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.48 Percent per annum (2029)
- GNI, Atlas method (current US$), annual growth rate 11.95 % change on previous year (2025)
- GNI, Atlas method (current US$), per unit of GDP 0.9074 current US$ per US$ of GDP (2025)
- GNI, Atlas method (current US$), per capita 89,219 current US$ per person (2025)
- GNI (current US$), annual growth rate 17.05 % change on previous year (2025)
- GNI (current US$), per unit of GDP 0.9978 current US$ per US$ of GDP (2025)
- GNI (current US$), per capita 98,107 current US$ per person (2025)
- GNI (current LCU), annual growth rate 8.97 % change on previous year (2025)
- GNI (current LCU), per unit of GDP 128.16 current LCU per US$ of GDP (2025)
Frequently asked questions
- What is government spending vs gdp per capita in Iceland?
- Government spending vs gdp per capita in Iceland was 46.54 in 2024, according to Our World in Data.
- What is the highest government spending vs gdp per capita recorded in Iceland?
- The highest recorded value was 62.78 in 2008.
- What is the lowest government spending vs gdp per capita recorded in Iceland?
- The lowest recorded value was 5.84 in 1915.
- How does Iceland rank for government spending vs gdp per capita?
- Iceland ranks 23rd out of 151 countries with data for 2024.
- Is government spending vs gdp per capita rising or falling in Iceland?
- Over the last ten years it is up 2.6%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Our World in Data, published as part of Government spending vs gdp per capita. Statizoid updates them automatically from the source API.
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